CLEVELAND, Nov. 11, 2016 /PRNewswire/ -- SecureView, maker of the country's first virtually unbreakable, undetectable clearboarding system, hailed the news that Fannie Mae has added new technology to the reimbursable solutions used to secure vacant properties, whether they are real-estate-owned or in a pre- or post-foreclosure state. Fannie Mae announced this week that it will reimburse mortgage field servicers for the added upfront cost of using polycarbonate windows and doors or other clearboarding alternatives to plywood.
Fannie Mae's national policy, which has a 90-day adoption period for servicers and vendors, brings a 21st century solution to the battle against community blight being waged across the country.
"Fannie Mae's decision to reimburse for the use of clearboarding to secure all vacant properties is a game changer," said Robert Klein, Founder and Chairman of Safeguard Properties, Community Blight Solutions and SecureView. "It will have a tremendous impact on returning properties to the market more quickly in a more stable and marketable condition. It is a major step forward and has been two years in the making. We hope it will be the catalyst that prompts the industry to follow suit."
Fannie Mae has been a leader in supporting the use of polycarbonate clearboarding to secure post-foreclosure vacant homes since early 2014.
"Plywood has been the default boarding material for decades," said Klein, who is a leader in the mortgage servicing and property preservation industry and has more than 25 years of experience in maintaining vacant properties. "But rather than protecting the property, plywood advertises that a home is empty, attracting vandals, squatters and criminal activity. Despite the higher upfront cost of clearboarding, servicers save in the long term because of the product's ability to maintain the value of the property and shorten the disposition process."
Recent academic research indicates a direct link between remediating vacant and abandoned properties and an increase in the health and safety of residents and property values of properties in the community. Using clearboarding to secure vacant properties would greatly reduce crime and assist in the fight against community blight.
"Eighty percent of the issues that the mortgage servicing industry has with securing vacant properties will be resolved when the industry moves toward polycarbonate clearboarding," Klein said.
Clearboarding currently is being used by community development organizations around the country, from New York to California.
SecureView is an alternative board-up system that is designed to look like traditional windows providing clear views and lets in natural light. Made from recycled materials, it is virtually unbreakable, which means it has the wherewithal to protect property from intrusion, and reduce the crime and squatting so often associated with plywood and steel board ups. Our mission is to benefit both lenders and communities by increasing the marketability of a property while simultaneously fighting community blight and securing the asset long term. To learn more about SecureView visit: www.secureviewusa.com or call 855-SCRVIEW.
About Robert Klein
Robert Klein is a successful entrepreneur and over the past 25 years, he has earned a reputation as a pioneer and innovator in the property preservation industry and strong advocate for eliminating blight in communities across the country. Klein is the Founder and Chairman of Safeguard Properties, Community Blight Solutions and SecureView, all based in Cleveland. Klein is a frequent speaker at field service industry conferences.
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